Midwest winter storm: Snow, sleet making travel hazardous

Chicago's midday full weather forecast. (WGN - Chicago)









A winter weather advisory is in effect until tonight as sleet, freezing rain and snow hit the Chicago area, making travel hazardous and grounding hundreds of flights.


The National Weather Service expects the heaviest snow to fall this afternoon. Winds gusting at 35 to 40 mph will reduce visibility and glaze roads, the weather service warned in the advisory.


"Snowfall rates in excess of an inch per hour could occur at times," it said, predicting 3 to 6 inches by Wednesday morning. "This will likely be a heavy wet snow sometimes referred to as heart attack snow."








Mike Bardou, a weather service meteorologist, said "the early part of the rush hour will be most affected."


The advisory expires at 9 p.m. in Cook, Will and DuPage counties, and at midnight in DeKalb, Kane, Lake, McHenry and several other counties in north central Illinois.


As of about 2 p.m., there were 5.5 inches in northwest suburban Bull Valley, 4 inches in northwest suburban South Elgin and Schaumburg, 3.3 inches in west suburban Winfield, 2.5 inches in north suburban Lake Bluff, 1.8 inches in north suburban Morton Grove, and 1.5 inches at Midway International Airport.

About 550 flights have been canceled at O'Hare International Airport and 160 at Midway, according to FlightStats, which gathers data from airports and airlines. There were about 600 flights delayed at O’Hare and 114 at Midway.


On the roads, spinouts have been reported on interstates 90, 94 and 55, according to the Illinois State Police.


The Illinois State Police Chicago District has instituted its emergency snow plan. In an accident where there are no injuries and the cars are driveable, the drivers should exchange information at a safe place and file accident reports with the state police within 10 days.


Chicago's Streets and Sanitation Department has deployed its entire fleet of 284 plows. Drivers will plow the main roads, such as Lake Shore Drive, through the evening rush hour. As the snow begins to taper off, the plows will clear residential roads, said department spokeswoman Anne Sheahan.


Extra plows are being deployed to the 2nd congressional district to help residents get to their polling places for today's primary election, Sheahan said.


Road conditions were treacherous throughout the southwest suburbs, especially along Interstates 55 and 80 in Will County, police and fire officials said.


Several vehicles have slipped into ditches along I-55 near Plainfield, especially near U.S. Route 30, said Jon Stratton, a deputy chief with the Plainfield Fire Protection District.  "On I-55, there are vehicles everywhere in the ditch," Stratton said. "Visibility is going down and roads are getting all snow covered, so it's going to be an interesting day."


The most serious accident in the area so far today occurred when an SUV slid under a semi's trailer on the Route 30 overpass over I-55, Stratton said.


Firefighters extricated the woman who was driving the SUV, and she was taken by ambulance to Provena Saint Joseph Medical Center in Joliet, Stratton said. The woman was conscious and stable when removed from the SUV, he said.


Plainfield police have responded to several reports of crashes and vehicles that have slid into ditches, Sgt. Mike Fisher said. "It is getting slick out there, so people should give themselves extra time, slow down and drive safe," Fisher said.


Schools in the southwest suburbs have also begun changing their schedules because of the storm.


High school students in Plainfield Community Consolidated School District 202 will be dismissed 20 minutes early today, at 1:50 p.m., to give bus drivers more time to complete their routes, according to a news release from the district.


Middle school students will be dismissed as soon as buses arrive at those schools after completing their high school routes. Elementary school students will be dismissed as close to their usual time as possible, according to the district.


All after-school activities in the district have also been canceled, including sports practices and games and Plainfield Park District programs that are usually held in the school district's buildings.


In Romeoville and Bolingbrook, most students in Valley View School District 365U already had today off because of staff meetings. But the district announced early this afternoon that it is ending the meetings early and closing all schools and its administration center because of the weather.





Read More..

Italy parties seek way out of election stalemate


ROME (Reuters) - Italy's stunned political parties searched for a way forward on Tuesday after an inconclusive election gave none of them a parliamentary majority and threatened prolonged instability and a renewal of the European financial crisis.


The results, notably the dramatic surge of the anti-establishment 5-Star Movement of comic Beppe Grillo, left the center-left bloc with a majority in the lower house but without the numbers to control the upper chamber, the Senate.


Financial markets fell sharply at the prospect of a stalemate that reawakened memories of the crisis that pushed Italy's borrowing costs toward unsustainably high levels and brought the euro zone to the brink of collapse in 2011.


"The winner is: Ingovernability," ran the headline in Rome newspaper Il Messaggero, reflecting the deadlock the country will have to confront in the next few weeks as sworn enemies are forced to work together to form a government.


Ratings agency Standard & Poor's said on Tuesday that policy choices of the next Italian government would be crucial for the country's creditworthiness, underlining the need for a coalition that can agree on new reforms.


Pier Luigi Bersani, head of the center-left Democratic Party (PD), has the difficult task of trying to agree a "grand coalition" with former prime minister Silvio Berlusconi, the man he blames for ruining Italy, or striking a deal with Grillo, a completely unknown quantity in conventional politics.


The alternative is new elections either immediately or within a few months, although both Berlusconi and Bersani have indicated that they want to avoid a return to the polls if possible: "Italy cannot be ungoverned and we have to reflect," Berlusconi said in an interview on his own television station.


For his part, Grillo, whose movement won the most votes of any single party, has indicated that he believes the next government will last no more than six months.


"They won't be able to govern," he told reporters on Tuesday. "Whether I'm there or not, they won't be able govern."


He said he would work with anyone who supported his policy proposals, which range from anti-corruption measures to green-tinted energy measures but rejected suggestions of entering a formal coalition: "It's not time to talk of alliances... the system has already fallen," he said.


The election, a massive rejection of the austerity policies applied by Prime Minister Mario Monti with the backing of international leaders from U.S. President Barack Obama to German Chancellor Angela Merkel, caused consternation across Europe.


German Finance Minister Wolfgang Schaeuble put a brave face on it, saying "that's democracy".


Spanish Foreign Minister Jose Manuel Garcia-Margallo was more pessimistic.


"This is a jump to nowhere that does not bode well either for Italy or Europe," he said.


A long recession and growing disillusionment with mainstream parties and tax-raising austerity fed a bitter public mood and contributed to the massive rejection of Monti, whose centrist coalition was relegated to the sidelines.


Projections by the Italian center for Electoral Studies showed that the center-left will have 121 seats in the Senate, against 117 for the center-right alliance of Berlusconi's PDL and the regionalist Northern League. Grillo would take 54.


That leaves no party with the majority in a chamber which a government must control to pass legislation.


"THE BELL IS RINGING"


On a visit to Germany, President Giorgio Napolitano said he would not comment until the parties had consulted with each other and Bersani called on Berlusconi and Grillo to "assume their responsibilities" to ensure Italy could have a government.


He warned that the election showed austerity policies alone were no answer to the economic crisis and said the result carried implications beyond Italy.


"The bell is ringing for Europe as well," he said in his first public comments since the election.


He said he would present a limited number of reform proposals to parliament, focusing on jobs, institutional reform and European policy.


However forming an alliance may be long and difficult and could test the sometimes fragile internal unity of the mainstream parties.


"The idea of a majority without Grillo is unthinkable. I don't know if anyone in the PD is considering it but I'm against it," said Matteo Orfini, a member of Bersani's PD secretariat.


"The idea of a PD-PDL government, even if it's backed by Monti, doesn't make any sense," he said.


For his part, Berlusconi won a boost when his Northern League ally Roberto Maroni won the election to become regional president of Lombardy, Italy's economic heartland and one of the richest and most productive areas of Europe.


For Italian business, with an illustrious history of export success, the election result brought dismay that there would be no quick change to what they see as a regulatory sclerosis that has kept the economy virtually stagnant for a decade.


"This is probably the worst possible scenario," said Francesco Divella, whose family began selling pasta under its eponymous brand in 1890 in the southern region of Puglia.


Berlusconi's campaign, mixing sweeping tax cut pledges with relentless attacks on Monti and Merkel, echoed many of the themes pushed by Grillo and underlined the increasingly angry mood of the Italian electorate.


But even if the next government turns away from the tax hikes and spending cuts brought in by Monti, it will struggle to revive an economy that has scarcely grown in two decades.


Monti was widely credited with tightening Italy's public finances and restoring its international credibility after the scandal-plagued Berlusconi, who is currently on trial for having sex with an under-age prostitute.


However, Monti struggled to pass the kind of structural reforms needed to improve competitiveness and lay the foundations for a return to economic growth. A weak center-left government may not find it any easier.


The view from some voters, weary of the mainstream parties, was unrepentant: "It's good," said Roger Manica, 28, a security guard in Rome, who voted for the center-left PD.


"Next time I'll vote 5-Star. I like that they are changing things, even if it means uncertainty. Uncertainty doesn't matter to me, for me what's important is a good person who gets things done," he said. "Look how well they've done."


(Additional reporting by Barry Moody, Gavin Jones, Lisa Jucca, Steven Jewkes, Steve Scherer, Catherine Hornby and Massimiliano Di Giorgio, Annika Breidthardt in Berlin. Writing by Philip Pullella and James Mackenzie; Editing by Peter Graff)



Read More..

Indiana stays No. 1 in AP Top 25, Gonzaga No. 2


Indiana is No. 1 in The Associated Press' Top 25 for the fourth straight week, while Gonzaga moved to No. 2 for the first time in school history.


The Bulldogs were third last week, matching their previous best ranking.


"The polls mean a lot more this time of year than they do in November, December, even January," coach Mark Few said. "All of us are being judged on the true body of work. It's definitely rewarding.


"It establishes us as a national program, which I believe we have been for the last 10 years. This group has done a great job of competing at that level, winning games at the highest level."


While the West Coast Bulldogs made some news at the top of the poll Monday, Louisiana Tech, the Bulldogs from Down South, moved into the rankings for the first time since a 13-week run in 1984-85, their only appearance in the poll.


Louisiana Tech, which is 25th this week, was led back then to a ranking as high as No. 7 by a forward named Karl Malone. Gonzaga at that time had a point guard named John Stockton. They went on to become one of the greatest combinations in NBA history with the Utah Jazz, were members of the Dream Team and both were inducted in the Naismith Memorial Basketball Hall of Fame.


The Hoosiers, who have been ranked No. 1 for a total of 10 weeks this season, received all but one first-place vote from the 65-member national media panel.


Gonzaga, which got the other No. 1 vote, was ranked third for the final two weeks of 2003-04.


Duke moved up three spots to third and is followed by Michigan and Miami, which dropped from second after falling to Wake Forest, the Hurricanes' first Atlantic Coast Conference loss this season.


Kansas is sixth, followed by Georgetown, Florida, Michigan State and Louisville.


Saint Louis, which beat Butler and VCU last week, moved into 18th in the poll, the Billikens' first ranking since being in for one week last season.


Colorado State, which was 22nd and lost twice last week, and VCU, which was 24th, dropped out.


Read More..

Iran plans own response to 'Argo'




(File photo) Argo tells the story of a rescue of U.S. diplomats from revolutionary Iran.




STORY HIGHLIGHTS


  • Ben Affleck's "Argo" tells the story of a dramatic rescue of U.S. diplomats from revolutionary Iran

  • Iranian state media criticize the movie as "replete with historical inaccuracies and distortions"

  • Iran's Art Bureau says it will fund its own film about the handing over of 20 U.S. hostages




(CNN) -- Ben Affleck has more than just a couple of Golden Globes to add to his resume.


His movie "Argo," about the suspenseful rescue of U.S. diplomats during the Iran hostage crisis, has also achieved the unusual honor of prompting Tehran to produce its own cinematic response.


Opinion: Latino should have played lead in 'Argo'


"Argo" was named best drama movie during the Golden Globes ceremony on Sunday night in Los Angeles, and Affleck won the award for best director, a category for which he was passed over in the recent Oscar nominations.










But his efforts to recreate on screen the drama of the secret operation by the CIA and Canada to extract six U.S. embassy workers from revolutionary Iran in 1980 haven't been overlooked by Tehran's Art Bureau.


'Argo' recognizes forgotten heroes of Iran hostage saga


It plans to fund a movie entitled "The General Staff," about 20 American hostages who were handed over to the United States by Iranian revolutionaries, according to a report last week by Mehr News, the official Iranian agency.


"This film, which will be a big production, should be an appropriate response to the ahistoric film 'Argo,'" said Ataollah Salmanian, the director of the Iranian film, according to Mehr.


"Argo" claims to be based on a true story rather than to constitute a scrupulous retelling of exactly what took place, and its deviations from reality have been documented.


But Iranian authorities have taken offense at the film's portrayal of the country and its people. "Argo" was officially viewed as "anti-Iranian" following its U.S. release last year, Mehr reported.


Iran's state-run broadcaster Press TV detailed its objections to the film in an online article on Sunday.


"The Iranophobic American movie attempts to describe Iranians as overemotional, irrational, insane, and diabolical while at the same, the CIA agents are represented as heroically patriotic," it complained.


In the movie, in which Affleck plays the lead role, the CIA operation is shown outwitting Iranian authorities through an elaborate plan based on pretending that the U.S. diplomats fleeing the country were part of team scouting locations for an outlandish science-fiction film.


But according to Press TV, the film is "a far cry from a balanced narration" and is "replete with historical inaccuracies and distortions."


On the other hand, "The General Staff," set to begin shooting next year, will be based on eyewitness accounts, Salmanian said.


The Art Bureau, which is to provide the financing, is affiliated with the Islamic Ideology Dissemination Organization, according to Mehr.


Press TV cited Salmanian as saying that his film would depict "the historical event unlike the American version which lacks a proper view of the story."


CNN's Samira Said contributed to this report.






Read More..

Woman freed after conviction in son's death tossed









Nicole Harris, who has been locked up since the 2005 death of her son, walked out of an Illinois prison today after an appeals court threw out her murder conviction.


Harris emerged from Dwight Correctional Center in front of a gathering of news crews after being reunited with her other son.


"I'm just overwhelmed and I'm thankful that's it's going to be over and I just want to be home with my son," Harris told the assembled media.





"I'm just ready to get on with my life and hold my son."


The Chicago woman was 23 when a jury found her guilty of killing her 4-year-old son Jaquari in their Northwest Side apartment following her confession to authorities. But Harris has long maintained that her confession was false and the result of threats and manipulation by police.


She said today that she was able to make it through the past seven years knowing that "I'm innocent and the truth will come out."


"It was like at some point I just knew this isn't it, that this was not my final destination."


In a 90-page ruling last October that vacated her conviction, the 7th Circuit U.S. Court of Appeals said there were "many reasons" to question her confession.


The appeal judges also ruled that Diante, then 5, should have been allowed to testify.


Now 14, Diante was the first person to meet Harris when she was released into an outer room of the prison at about 11:30 a.m. today.  Diante walked in bearing a balloon that read, "It's your Day" and a teddy bear. Harris threw her arms around him, wept softly and kissed him.


When asked later what it was like to see her son at that time, she said, "There are no words."


At exactly noon, a prison official told Harris she was "free to go." She clutched hands with a close friend and walked out of the prison. She had been told to get her things together around 8:30 a.m. this morning, she told the media, and said that, at that time, "I was beyond anxious."


Jaquari had been found dead with an elastic bedsheet cord wrapped around his neck. Diante had told authorities that he was alone with Jaquari when he saw him wrap the cord around his neck while playing.


Prosecutors, who argued that Diante also said he was asleep when Jaquari died, accused Harris of strangling Jaquari with the cord because she was angry he would not stop crying.


Harris' release, which the state argued against, is not the end of legal battle. The state has appealed the October ruling, asking the U.S. Supreme Court to review the case. In addition, Cook County prosecutors could still move to retry her. A representative from the state's attorney's office said no decision on a retrial has been made.


For now, Harris said, "I just want to enjoy life."


"I'm just glad to be free. I'm just glad to be free."


deldeib@tribune.com





Read More..

Huge protest vote pushes Italy towards deadlock


ROME (Reuters) - A huge protest vote by Italians enraged by economic hardship and political corruption pushed the country towards deadlock after an election on Monday, with voting projections showing no coalition strong enough to form a government.


With more than two thirds of the vote counted, the projections suggested the center left could have a slim lead in the race for the lower house of parliament.


But no party or likely coalition appeared likely to be able to form a majority in the upper house or Senate, creating a deadlocked parliament - the opposite of the stable result that Italy desperately needs to tackle a deep recession, rising unemployment and a massive public debt.


Such an outcome has the potential to revive fears over the euro zone debt crisis, with prospects of a long period of uncertainty in the zone's third largest economy.


Italian financial markets took fright after rising earlier on hopes for a stable and strong center-left led government, probably backed by outgoing technocrat premier Mario Monti.


The projected result was a stunning success for Genoese comic Beppe Grillo, leader of the populist 5-Star Movement, who toured the country in his first national election campaign hurling obscenity-laced insults against a discredited political class.


With vague election promises and a team of almost totally unknown candidates, the shaggy haired comedian channeled pure public anger against what many see as a sclerotic and useless political system.


The likely result was also a humiliating slap in the face for colorless center-left leader Pier Luigi Bersani, who appeared to have thrown away a 10-point opinion poll lead less than two months ago against Silvio Berlusconi's center right.


Berlusconi, 76, who staged an extraordinary comeback from sex and corruption scandals since diving into the campaign in December, appeared to be leading in the Senate race, but Grillo's projected bloc of Senators would leave him well short of a majority.


Projections gave Bersani's center-left alliance a lead of less than one percentage point in the lower house. If confirmed, that would be enough to control the chamber because of election laws that guarantee a 54 percent majority to the party with the largest share of the vote.


In the Senate the picture was different. The latest projection from RAI state television showed Berlusconi's bloc winning 112 Senate seats, the center-left 105 and Grillo 64, with Monti languishing on only 20 after a failed campaign which never took off. The Senate majority is 158.


Berlusconi, a master politician and communicator, wooed voters with a blitz of television appearances and promises to refund a hated housing tax despite accusations from opponents that this was an impossible vote buying trick.


Grillo has attacked all sides in the campaign and ruled out a formal alliance with any group although it was not immediately known how he would react to his stunning success or how his supporters would behave in parliament.


DANGER OF NEW ELECTION


A bitter campaign, fought largely over economic issues, made some investors fear a return of the kind of debt crisis that took the euro zone close to disaster and brought the technocrat Monti to office, replacing Berlusconi, in 2011.


The projected results showed more than half of Italians had voted for the anti-euro platforms of Berlusconi and Grillo.


Officials from both center and left warned that the looming deadlock could make Italy ungovernable and force new elections.


A center-left government either alone or ruling with Monti had been seen by investors as the best guarantee of measures to combat a deep recession and stagnant growth in Italy, which is pivotal to stability in the currency union.


The benchmark spread between Italian 10-year bonds and their German equivalent widened from below 260 basis points to above 300 and the Italian share index lost all its previous gains after projections of the Senate result.


"These projections suggest that we are heading for an ungovernable situation", said Mario Secchi, a candidate for Monti's centrist movement.


Stefano Fassina, chief economic official for Bersani's center-left, said: "The scenario from the projections we have seen so far suggests there will be no stable government and we would need to return to the polls."


If the results are confirmed the only possibility looks like a "grand coalition" combining right and left, like the one Monti led for a year. But politicians said before the vote this could not work for long and would struggle to work decisively.


Monti helped save Italy from a debt crisis when Rome's borrowing costs were spiraling out of control, but few Italians now see him as the savior of the country, in its longest recession for 20 years.


Grillo's movement rode a huge wave of voter anger about both the pain of Monti's austerity program and a string of political and corporate scandals. It had particular appeal for a frustrated younger generation shut out of full-time jobs.


"I'm sick of the scandals and the stealing," said Paolo Gentile, a 49-year-old Rome lawyer who voted for 5-Star.


"We need some young, new people in parliament, not the old parties that are totally discredited."


Berlusconi, a billionaire media tycoon, exploited anger against Monti's austerity program, accusing him of being a puppet of German Chancellor Angela Merkel, but in many areas Grillo was a bigger beneficiary of public discontent.


Italy desperately needs a strong, reform-minded government to revive growth after two decades of stagnation and address problems ranging from record youth unemployment to a dysfunctional justice system and a bloated public sector.


Italians wrung their hands at prospects of an inconclusive result that will mean more delays to these reforms.


"It's a classic result. Typically Italian. It means the country is not united. It is an expression of a country that does not work. I knew this would happen," said 36-year-old Rome office worker Roberta Federica.


Another office worker, Elisabetta Carlotta, 46, shook her head in disbelief. "We can't go on like this," she said.


(Additional reporting by Stefano Bernabei, Steve Scherer, Gavin Jones, Naomi O'Leary and Giuseppe Fonte in Rome and Lisa Jucca in Milan; Writing by Barry Moody; Editing by Peter Graff)



Read More..

Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.


Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.


Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.


"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.


Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.


But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.


National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.


"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


OPTIONS BULLS TARGET GAINS


The spending cuts, if they go ahead, could hit the defense industry particularly hard.


Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.


Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.


"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.


The stock ended up 0.6 percent at $88.12 on Friday.


If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.


General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.


EYES ON GDP DATA, APPLE


The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.


U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.


Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.


Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.


On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.


(Additional reporting by Doris Frankel; Editing by Kenneth Barry)



Read More..

Johnson wins 2nd Daytona 500; Patrick finishes 8th


DAYTONA BEACH, Fla. (AP) — Jimmie Johnson has won his second Daytona 500, racing past defending NASCAR champion Brad Keselowski on the final restart, while Danica Patrick finished eighth.


Johnson wasn't challenged over the final six laps Sunday, adding another 500 title to go with his 2006 victory.


This time crew chief Chad Knaus can enjoy it — he was suspended by NASCAR for the first victory.


Dale Earnhardt Jr. made a late move to finish second, but didn't challenge his Hendrick Motorsports teammate for the victory. Mark Martin was third.


Patrick was third on the final lap, but faded in the flurry of late action. She became the first woman in history to lead laps in the Daytona 500, though, with her three laps out front.


Read More..

Vatican 'Gay lobby'? Probably not






STORY HIGHLIGHTS


  • Benedict XVI not stepping down under pressure from 'gay lobby,' Allen says

  • Allen: Benedict is a man who prefers the life of the mind to the nuts and bolts of government

  • However, he says, much of the pope's time has been spent putting out fires




Editor's note: John L. Allen Jr. is CNN's senior Vatican analyst and senior correspondent for the National Catholic Reporter.


(CNN) -- Suffice it to say that of all possible storylines to emerge, heading into the election of a new pope, sensational charges of a shadowy "gay lobby" (possibly linked to blackmail), whose occult influence may have been behind the resignation of Benedict XVI, would be right at the bottom of the Vatican's wish list.


Proof of the Vatican's irritation came with a blistering statement Saturday complaining of "unverified, unverifiable or completely false news stories," even suggesting the media is trying to influence the papal election.


Two basic questions have to be asked about all this. First, is there really a secret dossier about a network of people inside the Vatican who are linked by their sexual orientation, as Italian newspaper reports have alleged? Second, is this really why Benedict XVI quit?



John L. Allen Jr.

John L. Allen Jr.



The best answers, respectively, are "maybe" and "probably not."


It's a matter of record that at the peak of last year's massive Vatican leaks crisis, Benedict XVI created a commission of three cardinals to investigate the leaks. They submitted an eyes-only report to the pope in mid-December, which has not been made public.


It's impossible to confirm whether that report looked into the possibility that people protecting secrets about their sex lives were involved with the leaks, but frankly, it would be surprising if it didn't.


There are certainly compelling reasons to consider the hypothesis. In 2007, a Vatican official was caught by an Italian TV network on hidden camera arranging a date through a gay-oriented chat room, and then taking the young man back to his Vatican apartment. In 2010, a papal ceremonial officer was caught on a wiretap arranging liaisons through a Nigerian member of a Vatican choir. Both episodes played out in full public view, and gave the Vatican a black eye.









Pope Benedict XVI































HIDE CAPTION





<<


<





1




2




3




4




5




6




7




8




9




10




11




12




13




14




15




16




17




18




19




20













>


>>









In that context, it would be a little odd if the cardinals didn't at least consider the possibility that insiders leading a double life might be vulnerable to pressure to betray the pope's confidence. That would apply not just to sex, but also potential conflicts of other sorts too, such as financial interests.


Vatican officials have said Benedict may authorize giving the report to the 116 cardinals who will elect his successor, so they can factor it into their deliberations. The most immediate fallout is that the affair is likely to strengthen the conviction among many cardinals that the next pope has to lead a serious house-cleaning inside the Vatican's bureaucracy.


It seems a stretch, however, to suggest this is the real reason Benedict is leaving. For the most part, one should probably take the pope at his word, that old age and fatigue are the motives for his decision.


That said, it's hard not to suspect that the meltdowns and controversies that have dogged Benedict XVI for the last eight years are in the background of why he's so tired. In 2009, at the height of another frenzy surrounding the lifting of the excommunication of a Holocaust-denying traditionalist bishop, Benedict dispatched a plaintive letter to the bishops of the world, voicing hurt for the way he'd been attacked and apologizing for the Vatican's mishandling of the situation.


Even if Benedict didn't resign because of any specific crisis, including this latest one, such anguish must have taken its toll. Benedict is a teaching pope, a man who prefers the life of the mind to the nuts and bolts of government, yet an enormous share of his time and energy has been consumed trying to put out internal fires.


It's hard to know why Benedict XVI is stepping off the stage, but I doubt it is because of a "gay lobby."


Follow us on Twitter @CNNOpinion.


Join us on Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of John L. Allen Jr.






Read More..

Live updates: Jimmie Johnson wins Daytona 500

Former NFL linebacker Ray Lewis talks about his son before the start of the Daytona 500. Lewis was the honorary starter for Sunday's race.









DAYTONA BEACH – Jimmie Johnson won the 55th running of the Daytona 500 Sunday at Daytona International Speedway. 


Dale Earnhardt Jr. was second followed by Mark Martin third.


"I really couldn't have done much without the help of Mark Martin," said Earnhardt. "We just didn't have enough to get a run on Jimmie."








Danica Patrick finished in eighth place, which was the highest finish by a female driver. 


500 MILES


Denny Hamlin took over the lead in the race and led for awhile.


The fifth caution of the day came out on Lap 172 after Jeff Burton’s No. 31 Chevrolet  hit the wall  and destroyed the front right side of his car, sending him to the garage.  During the yellow, Scott Speed took the top spot for a couple of laps before being forced to pit.


That opened the door for Brad Keselowski to take the top spot going into the restart on Lap 181. Michael Waltrip moved into second with Jimmie Johnson third. Marcos Ambrose made a big move up to fourth.


Patrick moved into third after Waltrip and Johnson dropped back into the pack.


Keselowski and Johnson battled in the front of the pack.


The sixth caution of the day came out on Lap 191 for debris on the racetrack in Turn 2.


The race restarted with six laps to go and Johnson held on to win the race. 


400 MILES


Matt Kenseth continued to lead the race.


On Lap 129, about a half dozen cars made their way into a green flag pit stop including Patrick. The stop reshuffled some of the running order as Hamlin and Clint Bowyer moved into second and third, respectfully behind Kenseth.


The fourth caution of the day came out after Brad Keslowski’s No. 2 Ford lost control of his car in Turn 3 and dropped down to the apron sending several other drivers into a nine-car pile-up which included Trevor Bayne, Carl Edwards, David Ragan and David Gilliland. The wreck also sent Austin Dillon and John Wise to the garage.


That left 26 cars on the lead lap at the restart of the race with 54 laps to go.


However, Kenseth’s day took a turn on Lap 149 when his No. 20 Toyota showed signs of smoke on the front, left side. It forced him to head to pit road and opened the door for Hamlin to grab the lead.


Kenseth’s Joe Gibbs Racing teammate, Kyle Busch was forced to head to pit road on the following lap. 


300 MILES





Read More..

Gloomy Italians vote in election crucial for euro zone


ROME (Reuters) - Italy voted on Sunday in one of the most unpredictable elections in years, with many voters expressing rage against a discredited elite and doubt that a government will emerge strong enough to combat a severe economic crisis.


"I am pessimistic. Nothing will change," said Luciana Li Mandri, 37, as she cast a ballot in the Sicilian capital Palermo on the first of two days of voting that continues on Monday.


"The usual thieves will be in government."


Her gloom reflected the mood across Italy, where many voters said they thought the new administration would not last long, just the opposite of what Italy needs to combat the longest slump in 20 years, mounting unemployment and a huge public debt.


The election is being closely watched by investors whose memories are fresh of a debt crisis which forced out scandal-plagued conservative premier Silvio Berlusconi 15 months ago and saw him replaced by economics professor Mario Monti.


"I'm not confident that the government that emerges from the election will be able to solve any of our problems," said Attilio Bianchetti, a 55-year-old building tradesman in Milan.


Underlining his disilluion with the established parties, he voted for the 5-Star Movement of comic Beppe Grillo.


An iconclastic, 64-year-old Genoese, Grillo has screamed himself hoarse with obscenity-laced attacks on politicians that have channeled the anger of Italians, especially a frustrated young generation hit by record unemployment.


"He's the only real new element in a political landscape where we've been seeing the same faces for too long," said Vincenzo Cannizzaro, 48, in Palermo.


Opinion polls give the centre-left coalition of Pier Luigi Bersani a narrow lead but the result has been thrown open by the prospect of a huge protest vote against Monti's painful austerity measures and rage at a wave of corruption scandals.


A weak government could usher in new instability in the euro zone's third largest economy and cause another crisis of confidence in the European Union's single currency.


Television tycoon Berlusconi, showing off unrivalled media skills and displaying extraordinary energy for a man of 76, has increased uncertainty over the past couple of months by halving the gap between his centre-right and Bersani.


"I am pessimistic. There is such political fragmentation that we will again have the problem of ungovernability" said Marta, a lawyer voting in Rome who did not want to give her family name. "I fear the new government won't last long."


Another Roman voter, lab technician Manila Luce, 34, said: "I am voting Grillo and I hope a lot of people do. Because it's the only way to show how sick to the back teeth we are with the old parties."


Voting continues until 10 p.m. (4 p.m. EST) and resumes on Monday at 7 a.m. Exit polls will be published shortly after polls close at 3 p.m. on Monday. Full official results are expected by early Tuesday.


Snow in the north was expected to last into Monday and could discourage some of the 47 million eligible voters. Authorities said they were prepared for the weather and in the central city of Bologna roads were cleared of snow before voting started.


TOPLESS FEMINISTS


Several bare-breasted women protested against Berlusconi when he voted in Milan. They were bundled away by police.


The four-time premier, known for off-color jokes and a constant target of feminists, is on trial for having sex with an underage prostitute during "bunga bunga" parties at his villa.


Most experts expect a coalition between Bersani and Monti to form the next administration, but whatever government emerges will have to try to reverse years of failure to revitalize one of the most sluggish economies in the developed world.


The widespread despair over the state of the country, where a series of corruption scandals has highlighted the stark divide between a privileged political elite and millions of ordinary Italians struggling to make ends meet, has left deep scars.


"It's our fault, Italian citizens. It's our closed mentality. We're just not Europeans," said voter Li Mandri in Palermo.


"We're all about getting favors when we study, getting a protected job when we work," she said. "That's the way we are and we can only be represented by people like that as well."


ECONOMIC AGENDA


Even if Bersani wins as expected, Analysts are divided over whether he will be able to form a stable majority that can force through sweeping economic reforms.


His centre-left is expected to have firm control of the lower house, thanks to rules that give a strong majority to whichever party wins the most votes nationally.


But a much closer battle will be fought for the Senate which is elected on a regional basis and which has equal law making powers to the chamber.


Berlusconi has clawed back support by promising to repeal Monti's hated new housing tax, the IMU, and to refund the money. He relentlessly attacked what he called the "Germano-centric" policies of the former European Union commissioner.


Think-tank consultant Mario, 60, said on his way to vote in Bologna that Bersani's Democratic Party was the only group serious enough to repair the economy: "They're not perfect," he said. "But they've got the organization and the union backing that will help them push through structural reforms."


Despite Berlusconi's success, Grillo has tapped into the same public frustration as the conservative tycoon and pollsters say his 5-Star Movement of political novices could overtake the centre-right to take second place in the vote.


Rivals have branded Grillo a threat to democracy - a vivid image in a country ruled by fascists for two decades until World War Two. Several voters who spoke to Reuters said Grillo was not the answer because of his lack of concrete policies and the inexperience of those who will sit in parliament for 5-Star.


"Grillo is a populist and populism doesn't work in a democracy," said retired notary Pasquale Lebanon, 76, as he voted for Bersani's Democratic Party in Milan.


"I'm very worried. There seems to be no way out from a political point of view, or for being able to govern," said Calogero Giallanza, a 45-year-old musician in Rome as he also voted for Bersani.


"There's bound to be a mess in the Senate because, as far as I can see the 5-Star Movement is unstoppable."


(Additional reporting by Cristiano Corvino, Lisa Jucca, Jennifer Clark, Matthias Baehr, Jennifer Clark and Sara Rossi in Milan, Stephen Jewkes in Bologna, Wladimir Pantaleone in Palermo, Stefano Bernabei and Massimiliano Di Giorgio in Rome; Writing by James Mackenzie and Barry Moody; Editing by Alastair Macdonald)



Read More..

Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.


Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.


Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.


"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.


Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.


But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.


National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.


"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


OPTIONS BULLS TARGET GAINS


The spending cuts, if they go ahead, could hit the defense industry particularly hard.


Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.


Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.


"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.


The stock ended up 0.6 percent at $88.12 on Friday.


If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.


General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.


EYES ON GDP DATA, APPLE


The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.


U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.


Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.


Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.


On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.


(Additional reporting by Doris Frankel; Editing by Kenneth Barry)



Read More..

Stewart wins at Daytona after scary last-lap crash


DAYTONA BEACH, Fla. (AP) — Tony Stewart won a chaotic Nationwide Series race at Daytona International Speedway that ended with a frightening last-lap crash that appeared to injure fans when rookie Kyle Larson's car sailed into the fence that separates the track from the seats.


The front end of Larson's car was ripped away, and a gaping hole was cut in the fencing. Pieces of the car sailed into the grandstands and emergency workers could be seen attending to fans.


Ambulance sirens were heard behind the stands, which were briefly shrouded in smoke from Larson's burning engine, which appeared to be wedged into the fence.


A subdued Stewart did not celebrate in Victory Lane.


"The important thing is what going on on the front-stretch right now," the three-time NASCAR champion said. "We've always known, and since racing started, this is a dangerous sport. But it's hard. We assume that risk, but it's hard when the fans get caught up in it.


"So as much as we want to celebrate right now and as much as this is a big deal to us, I'm more worried about the drivers and the fans that are in the stands right now because that was ... I could see it all in my mirror, and it didn't look good from where I was at."


Regan Smith was leading coming to the checkered flag when he was turned sideways into the wall. Cars began wrecking all over the track, and Larson's car went sailing into the fence.


Stewart slid through the wreckage to the win.


When Larson's car came to a stop, it was missing its entire front end. The 20-year-old, who made his Daytona debut this week, said he first thought of the fans.


"I hope all the fans are OK and all the drivers are all right," Larson said. "I took a couple big hits there and saw my engine was gone. Just hope everybody's all right."


He said he was along for the ride in the last-lap accident.


"I was getting pushed from behind, I felt like, and by the time my spotter said lift or go low, it was too late," Larson said. "I was in the wreck and then felt like it was slowing down and I looked like I could see the ground. Had some flames come in the cockpit, but luckily I was all right and could get out of the car quick."


It appeared fans were lined right along the fence when Larson's car sailed up and into it.


Shortly before the final three-lap sprint to the finish, Michael Annett was taken to a hospital for further evaluation after a 13-car accident with five laps remaining.


NASCAR said Annett was awake and alert, but undergoing further tests. That accident stopped the race for a red-flag of nearly 20 minutes.


The last-lap accident began when Smith tried to block defending Sprint Cup Series champion Brad Keselowski to preserve the win.


"I tried to throw a block, it's Daytona, you want to go for the win here," Smith said. "I don't know how you can play it any different other than concede second place, and I wasn't willing to do that today. Our job is to put them in position to win, and it was, and it didn't work out."


Keselowski watched a replay of the final accident, but said his first thoughts were with the fans. As for the accident, he agreed he tried to make a winning move and Smith tried to block.


"He felt like that's what he had to do, and that's his right. The chaos comes with it," Keselowski said. "I made the move and he blocked it, and the two of us got together and started the chain events that caused that wreck. First and foremost, just want to make sure everyone in the stands is OK and we're thinking about them."


Keselowski said the incident could cast a pall on Sunday's season-opening Daytona 500.


"I think until we know exactly the statuses of everyone involved, it's hard to lock yourself into the 500," Keselowski said. "Hopefully we'll know soon and hopefully everyone's OK. And if that's the case, we'll staring focusing on Sunday."


Read More..

Analysis: Italian election explained











Austerity-hit Italy chooses new leader


Austerity-hit Italy chooses new leader


Austerity-hit Italy chooses new leader


Austerity-hit Italy chooses new leader








STORY HIGHLIGHTS


  • Silvio Berlusconi is campaigning to win his old job back for the fourth time

  • The eurozone's third largest economy is hurting, with unemployment surpassing 11%

  • Pier Luigi Bersani of the center-left Democratic Party is expected to narrowly win

  • Italy's political system encourages the forming of alliances




(CNN) -- Little more than a year after he resigned in disgrace as prime minister, Silvio Berlusconi is campaigning to win his old job back -- for the fourth time.


Berlusconi, the septuagenarian playboy billionaire nicknamed "Il Cavaliere," has been trailing in polls behind his center-left rival, Per Luigi Bersani.


But the controversial media tycoon's rise in the polls in recent weeks, combined with widespread public disillusionment and the quirks of Italy's complex electoral system, means that nothing about the race is a foregone conclusion.


Why have the elections been called now?


Italian parliamentarians are elected for five-year terms, with the current one due to end in April. However in December, Berlusconi's People of Freedom Party (PdL) withdrew its support from the reformist government led by Mario Monti, saying it was pursuing policies that "were too German-centric." Monti subsequently resigned and the parliament was dissolved.






Berlusconi -- the country's longest serving post-war leader -- had resigned the prime ministerial office himself amidst a parliamentary revolt in November 2011. He left at a time of personal and national crisis, as Italy grappled with sovereign debt problems and Berlusconi faced criminal charges of tax fraud, for which he was subsequently convicted. He remains free pending an appeal. He was also embroiled in a scandal involving a young nightclub dancer - which led him to be charged with paying for sex with an underage prostitute.


MORE: From Venice to bunga bunga: Italy in coma


He was replaced by Monti, a respected economist and former European Commissioner, who was invited by Italy's President Giorgio Napolitano to lead a cabinet of unelected technocrats. Monti's government implemented a program of tax rises and austerity measures in an attempt to resolve Italy's economic crisis.


Who are the candidates?


The election is a four-horse race between political coalitions led by Bersani, Berlusconi, Monti, and the anti-establishment movement led by ex-comedian Beppe Grillo. Polls are banned within two weeks of election day, but the most recent ones had Bersani holding onto a slender lead over Berlusconi, followed by Grillo in distant third.


READ MORE: Will Monte Paschi banking scandal throw open Italy's election race?


The center-left alliance is dominated by the Democratic Party, led by Bersani. He is a former Minister of Economic Development in Romano Prodi's government from 2006-8 -- and has held a comfortable lead in polls, but that appears to be gradually being eroded by Berlusconi.


Italy's political system encourages the forming of alliances, and the Democratic Party has teamed with the more left-wing Left Ecology Freedom party.


The 61-year-old Bersani comes across as "bluff and homespun, and that's part of his appeal -- or not, depending on your point of view," said political analyst James Walston, department chair of international relations at the American University of Rome.


He described Bersani, a former communist, as a "revised apparatchik," saying the reform-minded socialist was paradoxically "far more of a free marketeer than even people on the right."


Bersani has vowed to continue with Monti's austerity measures and reforms, albeit with some adjustments, if he wins.


At second place in the polls is the center-right alliance led by Berlusconi's PdL, in coalition with the right-wing, anti-immigration Northern League.


Berlusconi has given conflicting signals as to whether he is running for the premiership, indicating that he would seek the job if his coalition won, but contradicting that on other occasions.


In a recent speech, he proposed himself as Economy and Industry Minister, and the PdL Secretary Angelino Alfano as prime minister.


Roberto Maroni, leader of the Northern League, has said the possibility of Berlusconi becoming prime minister is explicitly ruled out by the electoral pact between the parties, but the former premier has repeatedly said he plays to win, and observers believe he is unlikely to pass up the chance to lead the country again if the opportunity presents itself.


Berlusconi has been campaigning as a Milan court weighs his appeal against a tax fraud conviction, for which he was sentenced to four years in jail last year. The verdict will be delivered after the elections; however, under the Italian legal system, he is entitled to a further appeal in a higher court. Because the case dates to July 2006, the statute of limitations will expire this year, meaning there is a good chance none of the defendants will serve any prison time.


He is also facing charges in the prostitution case (and that he tried to pull strings to get her out of jail when she was accused of theft) -- and in a third case stands accused of revealing confidential court information relating to an investigation into a bank scandal in 2005.


Despite all this, he retains strong political support from his base.


"Italy is a very forgiving society, it's partly to do with Roman Catholicism," said Walston. "There's sort of a 'live and let live' idea."


Monti, the country's 69-year-old technocrat prime minister, who had never been a politician before he was appointed to lead the government, has entered the fray to lead a centrist coalition committed to continuing his reforms. The alliance includes Monti's Civic Choice for Monti, the Christian Democrats and a smaller centre-right party, Future and Freedom for Italy.


As a "senator for life," Monti is guaranteed a seat in the senate and does not need to run for election himself, but he is hitting the hustings on behalf of his party.


In a climate of widespread public disillusionment with politics, comedian and blogger Beppe Grillo is also making gains by capturing the protest vote with his Five Star Movement. Grillo has railed against big business and the corruption of Italy's political establishment, and holds broadly euro-skeptical and pro-environmental positions.


How will the election be conducted?


Italy has a bicameral legislature and a voting system which even many Italians say they find confusing.


Voters will be electing 315 members of the Senate, and 630 members of the Chamber of Deputies. Both houses hold the same powers, although the Senate is referred to as the upper house.


Under the country's closed-list proportional representation system, each party submits ranked lists of its candidates, and is awarded seats according to the proportion of votes won -- provided it passes a minimum threshold of support.


Seats in the Chamber of Deputies are on a national basis, while seats in the senate are allocated on a regional one.


The party with the most votes are awarded a premium of bonus seats to give them a working majority.


The prime minister needs the support of both houses to govern.


Who is likely to be the next prime minister?


On current polling, Bersani's bloc looks the likely victor in the Chamber of Deputies. But even if he maintains his lead in polls, he could fall short of winning the Senate, because of the rules distributing seats in that house on a regional basis.


Crucial to victory in the Senate is winning the region of Lombardy, the industrial powerhouse of the north of Italy which generates a fifth of the country's wealth and is a traditional support base for Berlusconi. Often compared to the U.S. state of Ohio for the "kingmaker" role it plays in elections, Lombardy has more Senate seats than any other region.


If no bloc succeeds in controlling both houses, the horse-trading begins in search of a broader coalition.


Walston said that a coalition government between the blocs led by Bersani and Monti seemed "almost inevitable," barring something "peculiar" happening in the final stages of the election campaign.


Berlusconi, he predicted, would "get enough votes to cause trouble."


What are the main issues?


There's only really one issue on the agenda at this election.


The eurozone's third largest economy is hurting, with unemployment surpassing 11% -- and hitting 37% for young people.


Voters are weighing the question of whether to continue taking Monti's bitter medicine of higher taxation and austerity measures, while a contentious property tax is also proving a subject of vexed debate.


Walston said the dilemma facing Italians was deciding between "who's going to look after the country better, or who's going to look after my pocket better."


He said it appeared voters held far greater confidence in the ability of Monti and Bersani to fix the economy, while those swayed by appeals to their own finances may be more likely to support Berlusconi.


But he said it appeared that few undecided voters had any faith in Berlusconi's ability to follow through on his pledges, including a recent promise to reverse the property tax.


What are the ramifications of the election for Europe and the wider world?


Improving the fortunes of the world's eighth largest economy is in the interests of Europe, and in turn the global economy.


Italy's woes have alarmed foreign investors. However, financial commentator Nicholas Spiro, managing director of consultancy Spiro Sovereign Strategy, says the European Central Bank's bond-buying program has gone a long way to mitigating investors' concerns about the instability of Italian politics.


Why is political instability so endemic to Italy?


Italy has had more than 60 governments since World War II -- in large part as a by-product of a system designed to prevent the rise of another dictator.


Parties can be formed and make their way on to the political main stage with relative ease -- as witnessed by the rise of Grillo's Five Star Movement, the protest party which was formed in 2009 but in local and regional elections has even outshone Berlusoni's party at times.


Others point to enduringly strong regional identities as part of the recipe for the country's political fluidity.


READ MORE: Italian Elections 2013: Fame di sapere (hunger for knowledge)







Read More..

Te'o tackles questions about 'embarrassing' hoax









INDIANAPOLIS –  Manti Te’o sounded like a man ready to move on with his life.

The former Notre Dame linebacker, who claimed to be a victim of a bizarre hoax involving an Internet-created girlfriend, fielded questions from a media horde Saturday at the NFL scouting combine and said he is beyond the personal embarrassment caused by the incident. But Te’o said he is still disappointed in himself for the harm he caused his family.

"The incident, I said all I needed to say about that," Te’o said. "How I’m handing it going forward, it’s doing what I’m doing right now: Focusing on the moment and focusing on football and the combine.

"Not everybody gets this opportunity to be here. I’m sure there are thousands and thousands of people who would like to be here in Indianapolis. So, just trying to enjoy the moment.’’


Te'o said he was surprised by the intensity of the interest in the hoax, calling the reaction "overwhelming" at times and said it was "definitely embarrassing."


Te’o was asked what teams are asking him about the incident.

"Just tell me the facts," he said. "They want to hear it from me. Just tell them basically what happened."

Te’o said the toughest part about the incident was seeing his family name essentially dragged in the mud. He got a call from his sister at one point saying his family back in Hawaii had to sneak into the house because of the media hovering in the yard.

"To know that my family was in this situation because of the actions that I committed was definitely the hardest part,’’ he said.

He was asked about not being forthcoming about the hoax from the start.

"It was a just whirlwind of stuff for me,’’ he said. "For me, you’re a 22-year-old – a 21-year-old at that time – and just trying to get your thoughts right, everything is just kind of chaos for a little bit. So you let the chaos die down and wait until everybody’s ready to listen.

"The way that we did it I felt worked best for me. I’m just very grateful for those who helped me get through that time because I think it went over as smoothly as it could.’’








More importantly, Te'o needs to show NFL teams how his poor performance against Alabama in the BCS national title game was just as much of an illusion.


"That's all on me," Te'o said of the Alabama game. "Alabama had a great game plan."


Te'o said he has received no indication from NFL teams that the incident will affect his draft status. He also said he didn't think it would affect how he is treated by future teammates.


Te’o said he met with the Houston Texans and Green Bay Packers in Indianapolis and still was scheduled to meet with 18 more teams. He hopes to answer some doubts about his performance against Alabama in the national title game when the linebackers start their workouts on Monday.


Te’o said he would not pursue any legal action against hoaxer Ronaiah Tuiasosopo, who admitted on national television falling for Te’o during their long-distance relationship.

"That’s the worst thing you can do,’’ he said. "Both families are going through chaos. ... If you forgive, you’ll get the majority of the blessings.’’

When the roughly 15-minute session ended, Te'o thanked the media for attending, then thanked his family and Notre Dame.





Read More..

Tens of thousands in Spain protest economic policy, corruption


MADRID (Reuters) - Tens of thousands of Spaniards marched through cities across the country on Saturday to protest deep austerity, the privatization of public services and political corruption.


Gathering under the banner of the "Citizen Tide", students, doctors, unionists, young families and pensioners staged rowdy but non-violent demonstrations as a near five-year economic slump shows no sign of recovery and mass unemployment rises.


"I'm here to add my voice. They're cutting where they shouldn't cut; health, education ... basic services. And the latest corruption scandal is just the tiniest tip of a very large iceberg," said Alberto, 51, an account administrator for a German multinational in Madrid, who preferred not to give his surname.


Protests in Spain have become commonplace as the conservative government passes measures aimed at shrinking one of the euro zone's highest budget deficits and reinventing an economy hobbled by a burst housing bubble.


Prime Minister Mariano Rajoy has introduced some of the deepest budget cuts in Spain's democratic history in an attempt to convince investors the country can weather the economic crisis without falling back on international aid.


But, with more than half of the country's young people out of work and growth not expected until sometime next year, the measures have only scratched the surface of the budget shortfall which is expected to be more than double the target in 2014.


Meanwhile, corruption scandals which have hit the ruling party as well as the once-popular royal family has left many Spaniards disenchanted with their leaders on all sides of the political spectrum.


In Madrid, under a clear, cold winter sky, Saturday's marches convened from four different points by early evening in Neptune Square, between the heavily policed and barricaded parliament, the Ritz Hotel and the stock exchange.


Carrying placards which condemned everything from cuts in the health sector to massive bailouts granted to Spain's banking system, crowds banged drums and chanted, while dozens of riot police stood on the sidelines.


The march coincided with the anniversary of a failed coup attempt in 1981 by Civil Guard officers who stormed Parliament and held deputies hostage until the next day.


(Reporting By Paul Day; Editing by Jason Webb)



Read More..

Wall Street rebounds on HP results, Fed officials' views

NEW YORK (Reuters) - U.S. stocks rose on Friday as Dow component Hewlett-Packard surged on strong results and comments from Fed officials allayed fears that the central bank would curtail its stimulus measures.


Federal Reserve Chairman Ben Bernanke downplayed worries that the Fed has fueled asset bubbles that could hurt the economy in a private meeting with bond dealers and investors earlier this month, Bloomberg reported on Friday.


Bernanke's view helped ease fears that the central bank may end its easy money policies. Minutes from the Federal Reserve's January meeting hit markets on Wednesday as investors interpreted divergent opinions on the benefit of stimulus as a sign the measures may be halted sooner than thought.


"They are in uncharted territory with divergent views," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. "I could see some pretty heated opinions on what the ultimate outcome is, so I do believe there is dissension."


Hewlett-Packard Co shares jumped more than 12 percent and gave one of the biggest boosts to both the Dow and the S&P 500 after the personal computer maker's quarterly revenue and forecasts beat expectations. Hewlett-Packard's stock rose to $19.20 at the close, up 12.3 percent for the day.


The Dow Jones industrial average <.dji> gained 119.95 points, or 0.86 percent, to 14,000.57 at the close. The Standard & Poor's 500 Index <.spx> rose 13.18 points, or 0.88 percent, to 1,515.60. The Nasdaq Composite Index <.ixic> added 30.33 points, or 0.97 percent, to end at 3,161.82.


With Bernanke's reported comments much on their minds in Friday's session, investors will want the Fed chairman to reiterate his remarks publicly when he speaks before the Senate Banking Committee on Tuesday. That would echo comments made by two top Fed officials on Friday.


Boston Fed President Eric Rosengren and Fed Governor Jerome Powell both defended the U.S. central bank's asset-buying program, arguing that the policy helps the U.S. economy.


The S&P 500 shed 1.9 percent over the previous two sessions, its worst two-day drop since early November, following the release of the Fed's minutes on Wednesday. The selloff marked the end of seven back-to-back weeks of gains for stocks.


For the week, the S&P 500 slipped 0.3 percent and the Nasdaq lost nearly 1 percent. Only the Dow ended the week with a gain - up just 0.1 percent.


HP's results come near the end of a relatively strong earnings season in which 70 percent of S&P 500 companies beat analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters, according to Thomson Reuters data.


"Overall, the earnings supports were better than expected in this cycle," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois. "We may see the market rising during the month of March."


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


But with only a handful of companies left to report earnings, investors are looking ahead to the possibility of hefty automatic budget cuts that could happen on March 1.


A large option investor appeared to be adjusting a bearish view on the SPDR S&P 500 Trust fund while locking in previously established gains, in a possible hedge ahead of the automatic budget cuts that are set to take effect at the beginning of next month. The play involved weekly puts, expiring next Friday.


"An institutional investor appears to be rolling down and increasing in size a defensive hedge timed to match the March 1 deadline for the sequester," said Henry Schwartz, president of options analytics firm Trade Alert.


The trader sold 132,000 $149 to $150 weekly put spreads for 22 cents as shares of the exchange-traded fund had traded near $151.14 on Friday morning. The transaction entailed the sale of $150 weekly puts to buy the $149 weekly puts. In addition, the investor purchased another 42,000 $149 weekly puts, which increases the size of the hedge to 174,000 contracts.


"It is likely this large position protects an existing underlying long position in a portfolio," Schwartz said.


In another political risk factor, Italians go to the polls this weekend in an election that could threaten reforms in the indebted country. Silvio Berlusconi's resurgence has thrown the vote wide open, with deep uncertainty over whether the poll can produce the strong government the country needs.


Inconclusive Greek elections last year sparked a protracted selloff and a period of uncertainty in markets.


In the tech sector, Marvell Technology Group Ltd forecast results this quarter that were largely above analysts' expectations. Marvell gained market share in the hard-disk drive and flash-storage businesses. The stock rose 4.4 percent to $9.89.


Texas Instruments Inc raised its dividend by a third and boosted its stock-buyback program, driving its stock up 5.2 percent to $34.18.


The PHLX semiconductor index <.sox> gained 2.1 percent.


"Dividends growing are another way the market's level is justified, if not especially attractive at these levels," said Rex Macey, chief investment officer of Wilmington Trust in Atlanta, who manages about $20 billion in assets.


On the downside, Abercrombie & Fitch dropped 4.5 percent to $46.86 after the youth-oriented clothing retailer reported a drop in fourth-quarter comparable sales, even as its latest quarterly earnings topped estimates.


Insurer American International Group Inc posted fourth-quarter results that beat analysts' expectations. AIG's stock advanced 3.1 percent to $38.45.


About three stocks rose for every one that fell on both the New York Stock Exchange and Nasdaq.


Around 5.8 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the 20-day moving average of around 6.51 billion shares.


(Additional Reporting by Ryan Vlastelica and Doris Frankel; Editing by Kenneth Barry and Jan Paschal)



Read More..

Oscar Pistorius gets bail as murder trial looms


PRETORIA, South Africa (AP) — Oscar Pistorius walked out of a South African court Friday a free man — for now — after a magistrate agreed to release him on bail ahead of his premeditated murder trial over the shooting death of his girlfriend.


But even as he was driven away from court and chased by videographers and photographers, questions continued to hound the Paralympian about what actually happened when he opened fire on Valentine's Day inside his home and killed Reeva Steenkamp.


Chief Magistrate Desmond Nair, who agreed to bail with harsh restrictions for the athlete, expressed his own doubts about Pistorius' story. Those questions, highlighted at a four-day bail hearing that at times foreshadowed his coming trial, come from Pistorius' account that he felt threatened and mistook Steenkamp for an intruder when he fired the four shots at her in his bathroom.


"Why would (Pistorius) venture further into danger?" Nair asked.


Pistorius' supporters shouted "Yes!" when Nair made his decision after a nearly two hour explanation of his ruling to a packed courtroom in Pretoria, South Africa's capital. Yet when prosecutors and the defense said they agreed to bail terms, Nair more than doubled those conditions for the 26-year-old runner to be free ahead of trial.


Nair set the bail at 1 million rand ($113,000), with $11,300 in cash up front and proof that the rest is available. The magistrate said Pistorius must hand over his passports and also turn in any other guns that he owns. Pistorius also cannot leave the district of Pretoria without the permission of his probation officer, Nair said, nor can he take drugs or drink alcohol.


Pistorius' family members hugged each other after the decision was read, with tears in their eyes.


"We are relieved at the fact that Oscar got bail today but at the same time we are in mourning for the death of Reeva with her family," said Pistorius' uncle, Arnold Pistorius. "As a family, we know Oscar's version of what happened on that tragic night and we know that that is the truth and that will prevail in the coming court case."


Sharon Steenkamp, Reeva's cousin, had said earlier that the family wouldn't be watching the bail decision and hadn't been following the hearing in Pretoria.


"It doesn't make any difference to the fact that we are without Reeva," she told The Associated Press.


Nair set Pistorius' next court appearance for June 4. The Olympian left the courthouse in a silver Land Rover, sitting in the rear, just more than an hour after the magistrate imposed the bail conditions. The vehicle, tailed by motorcycles carrying television cameramen aboard, later pulled into the home of Pistorius' uncle.


Pistorius left behind more than a dozen international and local television crews at the red-brick courthouse. It's a sign of the growing global fascination with a case involving an inspirational athlete and his beautiful, law-school graduate girlfriend, who was a model and reality TV show contestant.


During Friday's long session in Pretoria Magistrate's Court, Pistorius alternately wept and appeared solemn and more composed, especially toward the end as Nair criticized police procedures in the case and as a judgment in Pistorius' favor appeared imminent. He showed no reaction as he was granted bail.


Before the hearing, Pistorius' longtime coach Ampie Louw said he hoped to put his runner back into his morning and afternoon training routine if he got bail.


"The sooner he can start working the better," said Louw, who was the person who convinced the double-amputee to take up track as a teenager a decade ago. But he acknowledged Pistorius could be "heartbroken" and unwilling to immediately pull on his carbon-fiber running blades, the reason behind his "Blade Runner" nickname.


There is one place, however, where Nair ordered that Pistorius cannot go: His upscale home in a gated community in the eastern suburbs of Pretoria, where he killed Steenkamp in the predawn hours of Feb. 14.


Pistorius said in a sworn statement to the court that he shot his girlfriend accidentally, believing she was an intruder in his house. He described "a sense of terror rushing over" him and feeling vulnerable because he stood only on his stumps before opening fire.


Prosecutors, however, say he intended to kill Steenkamp, saying the shooting followed a loud argument between the two. Yet despite poking holes in Pistorius' statement — they questioned why he didn't notice his girlfriend missing despite walking past the bed and brought up incidents that they said highlighted his temper — their case unraveled through testimony by the police's lead investigator in the case, Detective Warrant Officer Hilton Botha.


Botha, who faces seven charges of attempted murder in an unrelated incident, was removed from the case Thursday. His replacement, the nation's top detective Vinesh Moonoo, stopped briefly by the hearing Friday. Prosecution spokesman Medupe Simasiku said later Friday: "We're still confident in our case."


While Nair leveled harsh criticism at Botha for "errors" and "blunders," he said one man does not represent an investigation and that the state could not be expected to put all "the pieces of the puzzle" together in such a short time. The magistrate questioned whether Pistorius would be a flight risk and be prepared to go "ducking and diving" around the world when he stood to lose a fortune in cash, cars, property and other assets.


Pistorius faced the sternest bail requirements in South Africa because of the seriousness of the charge. His defense lawyers had to prove that he would not flee the country, would not interfere with witnesses or the case and his release would not cause public unrest. They also had to show "exceptional" circumstances for his release as well, something Nair said could be found in the "weak" case offered by prosecutors.


Yet the magistrate still anticipated the shape of the state's case at trial. Nair said he had serious questions about Pistorius' account: Why didn't he try to locate his girlfriend on fearing an intruder was in the house? Why didn't he try to determine who was in the bathroom? And why would he venture into perceived "danger" — the bathroom area — when he could have taken other steps to ensure his safety?


Touching those unanswered questions, Nair said: "There are improbabilities which need to be explored."


___


AP Sports Writer Gerald Imray contributed to this report from Johannesburg.


___


Jon Gambrell can be reached at www.twitter.com/jongambrellAP .


Read More..